Zweig DiMenna Associates LLC Sells 42,595 Shares of Teradyne, Inc. $TER

Key Points

• Zweig DiMenna Associates LLC cut its Teradyne stake by 52.8% in Q1, selling 42,595 shares and leaving it with 38,034 shares valued at about $11.3 million.
• Wall Street sentiment is positive, with multiple analysts raising ratings and price targets; the consensus rating is Moderate Buy and the average target price is $390.53.
• Teradyne posted strong quarterly results, beating EPS and revenue estimates, while also raising its quarterly dividend from $0.12 to $0.13 per share.

Zweig DiMenna Associates LLC lowered its stake in shares of Teradyne, Inc. (NASDAQ:TER - Free Report) by 52.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,034 shares of the company's stock after selling 42,595 shares during the period. Teradyne accounts for about 1.6% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 22nd largest position. Zweig DiMenna Associates LLC's holdings in Teradyne were worth $11,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in Teradyne during the fourth quarter valued at $28,000. CYBER HORNET ETFs LLC purchased a new stake in Teradyne in the 2nd quarter worth $35,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Teradyne in the 4th quarter worth $37,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Teradyne during the 3rd quarter valued at about $41,000. Finally, True Wealth Design LLC boosted its holdings in shares of Teradyne by 49.6% during the 4th quarter. True Wealth Design LLC now owns 211 shares of the company's stock valued at $41,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 99.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TER. Zacks Research raised Teradyne from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. The Goldman Sachs Group increased their price target on Teradyne from $350.00 to $465.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Cantor Fitzgerald raised their price target on Teradyne from $400.00 to $550.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Evercore set a $370.00 price target on Teradyne in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised Teradyne from a "neutral" rating to an "overweight" rating and set a $400.00 price objective on the stock in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Teradyne currently has an average rating of "Moderate Buy" and a consensus target price of $390.53.

Insider Buying and Selling

In related news, VP Ryan Driscoll sold 680 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $377.60, for a total value of $256,768.00. Following the completion of the sale, the vice president directly owned 7,665 shares in the company, valued at $2,894,304. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gregory Stephen Smith sold 4,000 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $423.03, for a total transaction of $1,692,120.00. Following the transaction, the chief executive officer owned 120,470 shares in the company, valued at $50,962,424.10. This trade represents a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,941 shares of company stock worth $5,444,112 over the last three months. 0.19% of the stock is owned by insiders.

Teradyne Price Performance

Shares of NASDAQ TER opened at $353.23 on Wednesday. The business's 50 day moving average is $384.24 and its two-hundred day moving average is $325.32. Teradyne, Inc. has a 1-year low of $88.60 and a 1-year high of $487.91. The stock has a market capitalization of $55.29 billion, a P/E ratio of 65.41, a PEG ratio of 0.99 and a beta of 1.74.

Teradyne (NASDAQ:TER - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.11 by $0.45. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.20 billion. Teradyne had a return on equity of 31.79% and a net margin of 22.55%.The company's quarterly revenue was up 87.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, equities research analysts anticipate that Teradyne, Inc. will post 7.2 earnings per share for the current fiscal year.

Teradyne Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Thursday, May 21st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.1%. The ex-dividend date was Thursday, May 21st. This is a boost from Teradyne's previous quarterly dividend of $0.12. Teradyne's payout ratio is currently 9.63%.

About Teradyne

Teradyne, Inc is a global supplier of automatic test equipment and related services principally used to test semiconductors, wireless products and complex electronic systems. Founded in 1960, the company is headquartered in North Reading, Massachusetts, and has a long history of developing capital equipment and software that help semiconductor manufacturers, electronics OEMs and contract manufacturers validate product performance and reliability during design and production.

The company's product portfolio centers on automatic test equipment (ATE) and system-level test solutions that address chip- and board-level validation, burn-in and reliability screening.

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